Oklahoma regulators approve a 3.55% permanent PSO electricity rate increase

OKLAHOMA CITY (Nov. 6) — Oklahoma Corporation Commission members voted 2-1 on Thursday to approve a 3.55% permanent residential rate increase for Public Service Company of Oklahoma, KGOU/StateImpact reported.

Commissioners Bingman and Hiett voted yes; Chair Kim David voted no, NonDoc reported. The permanent hike replaces a temporary interim charge of about $11 a month that began in July. New rates take effect in the December billing cycle, NewsOn6 reported.

Residential customers will not receive refunds for the interim charges. Industrial customers will get bill credits within 90 days. Exact dollar impacts for typical households are still being finalized; PSO said it expects to release figures next week, NewsOn6 and KGOU reported.

PSO originally sought roughly a 15% increase. A settlement among the attorney general's office, AARP and the Public Utility Division would have held the residential increase to about 1%, but the final order rejected that rate design, KGOU and NonDoc reported. The attorney general's office said the residential increase is slightly higher than the settlement figure and the industrial increase modestly lower, and that the order saves customers nearly $23 million annually compared with PSO's original ask, KGOU reported.

PSO spokesperson Matt Rahn said the company is concerned and evaluating its options. Commissioners also approved a large-load tariff for customers using more than 75 megawatts — aimed at data centers and similar users — so residential ratepayers are not stuck with interconnection costs. The case was filed in January.